Only Self-Identified U.S.-Based Suitor For Canada's Sherritt International Corporation Is "Major GOP Donor"

Politico
Arlington, Virginia
9 September 2026

DALLAS — A secretive donor network closely aligned with Vice President Vance drew Cabinet members, lawmakers and major GOP donors to a "cowboy-chic" bar last night for a marquee pre-party ahead of the Republicans' midterm convention, Axios' Alex Isenstadt reports. 

Why it matters: The donor group, Rockbridge, has become an influential hub for conservative donors and operatives as Vance prepares for a likely White House run in 2028.

Inside the room: Between 200 and 250 people attended the private welcome reception at The Rustic.

Attendees included Dallas businessman and major GOP donor Ray Washburne, HHS Secretary Robert F. Kennedy Jr., HUD Secretary Scott Turner, Transportation Secretary Sean Duffy, Sen. Eric Schmitt (R-Mo.), Trump 2024 co-campaign manager Chris LaCivita, former Trump White House Chief of Staff Reince Priebus, investor Hal Lambert and professional bareback rider Rocker Steiner.

• Link: Suitor For Canada's Sherritt Is Co-Chair (With Wife) Of September 2026 Republican Party Midterm Convention Host Committee. President Trump And Party Leadership (Elected And Appointed) Will Attend. August 24, 2026 

Links To Related Analyses  

LINK: Related By Marriage, Two U.S. Investors (One Self-Identifying) Reside Near Each Other In Texas And Are In Competing Efforts To Control Canada's Sherritt International Corporation August 21, 2026  

LINK: Does United States-Based Investor Have Homefield Advantage? U.S. Department Of State Deploys Competition For Control Of Canada's Sherritt International Corporation August 8, 2026 

LINK: Two UK-Based Companies, One Switzerland-Based Company, And Unidentified U.S.-Based Party Make Offer For Canada's Sherritt International Corporation. Now Two Offers On The Table. August 10, 2026 

LINK: Potential Triple Play? Carney, Diaz-Canel, Trump Deal. U.S. Secretary Of Defense Hegseth Wants Cobalt. Cuba Has It. Settling One Libertad Act Issue. And Opening Doors? August 23, 2025 

LINK: Cuba Has Nickel And Cobalt. Vehicle Electric Batteries Use Nickel And Cobalt. Cuba Should Benefit. September 25, 2021 

LINK: U.S. Control For Canada's Sherritt And Cuba's Nickel/Cobalt? Ray Washburne, First Trump Administration OPIC President & CEO And Current Chairman Of Sunoco LLC Making An Offer? May 20, 2026  

LINK: Due To Trump Administration Cuba-Related Executive Orders And SDN List Additions, Canada's Sherritt International Corporation May Sell 55% To U.S. Company May 20, 2026  

LINK: Canada's Sherritt Reports That "dissolution [of GNC] is required as a result of a material adverse change that is an immediate change under the MSA and that there is inadequate time for arbitration" May 15, 2026 

Secretary Rubio's U.S.-Colombia Critical Minerals Framework Is Template For Cuba- Sherritt International Corporation And Antilles Gold.

United States Department of State
Washington DC
8 September 2026

During Secretary of State Marco Rubio’s trip to Barranquilla, Colombia, on September 8, he and Colombian Foreign Minister Omar Bula signed two arrangements to advance cooperation in the fields of critical minerals and civil nuclear cooperation.  These arrangements are part of our countries’ efforts to reinvigorate the over 200-year U.S.-Colombia partnership and restore it as a linchpin of security and economic cooperation in our hemisphere.

The Critical Minerals Framework:

Establishes a U.S.-Colombia framework to secure resilient, diversified, and fair supply chains for critical minerals and rare earths, committing both governments to mobilize government and private sector support—via guarantees, loans, equity, offtake arrangements, insurance, or regulatory facilitation—to jointly identify and finance mining and processing projects within six months of signing.  Calls for streamlined permitting, market-protective pricing mechanisms such as price floors, national security review tools for critical minerals asset sales, investment in minerals recycling technology, and cooperation on geological mapping.

The Civil Nuclear Cooperation Memorandum of Understanding:

Establishes a bilateral framework for strategic civil nuclear cooperation between the United States and Colombia, grounded in Non-Proliferation Treaty obligations and International Atomic Energy Agency safeguards, as Colombia considers deploying nuclear power to advance energy security and deepen the two countries’ broader strategic relationship.  Expresses joint intent to collaborate across regulatory capacity-building, industry partnerships, and scientific and academic exchanges to support Colombia’s civil nuclear infrastructure and workforce development; explore U.S. nuclear technologies (including advanced and small modular reactors), fuel, equipment, and services; and pursue both power and non-power applications such as research reactors, radioisotopes, nuclear medicine, agriculture, and waste management—all while upholding the highest standards of safety, security, and non-proliferation.

United States Government (Taxpayers) As Shareholder In Both Companies? 

Toronto, Canada-based Sherritt International Corporation (2025 revenue approximately US$389 million) has cobalt, nickel, and energy (30% interest in Energas S.A.) operations in the Republic of Cuba.  Link: https://sherritt.com/ 

Bowral, Australia-based Antilles Gold Limited entered the Republic of Cuba in 2020 to develop copper, gold, and silver mining projects.  Link: https://antillesgold.net/ 

Links To Related Analyses  

Five Entities In Cuba's Banking, Energy, Mining Sectors And Grandson Of Raul Castro Added To SDN List September 3, 2026

DOD (War) OSC Could Be U.S. Taxpayer Partner Of Last Resort For Canada’s Sherritt And Australia’s Antilles. Cobalt, Copper, Gold, Nickel, Silver Are Strategic Minerals. August 30, 2026

Cuba: And Now There Are Two…  Antilles Gold Has Until 25 January 2027 And Sherritt International Has Until 12 October 2026 August 27, 2026

Did Ontario Premier Make The Case For Why Canada's Sherritt Should Be Owned By U.S.-Based Suitor? “What would they do without the high-grade nickel that we ship down to the U.S.?”  August 24, 2026

Can Antilles Gold Of Australia Convince The Trump-Vance Administration And Government Of Cuba To Restructure Company Operations And Assets In Cuba? July 31, 2026 

Suitor For Canada's Sherritt Is Co-Chair (With Wife) Of September 2026 Republican Party Midterm Convention Host Committee. President Trump And Party Leadership (Elected And Appointed) Will Attend. August 24, 2026

Trump Administration Newly-Defined Cuba Doctrine Of "Temporary Escalatory Coercive Subjugation" Reflecting Share Price Of Canada's Sherritt. But, Some Made 336%. Preparing For Another Expropriation? August 22, 2026

Related By Marriage, Two U.S. Investors (One Self-Identifying) Reside Near Each Other In Texas And Are In Competing Efforts To Control Canada's Sherritt International Corporation August 21, 2026

U.S. Secretary Of State Rubio Meets With Minister Of Foreign Affairs Of Canada August 20, 2026

Trump-Vance Administration Increases Pressure On Cuba's Mining Sector. Impacting U.S. Control For Canada's Sherritt? August 20, 2026

Added To SDN List: Cuba Ministry Of Construction (MINCONS). August 20, 2026

U.S. Department Of State Sanctions ICAP And Nine Entities In Cuba August 20, 2026

USIDFC Expected To Have A Presence In Acquisition Canada's Sherritt International Corporation By U.S.-Based Investors. All About Protecting Supply Chains From China And Russia. August 20, 2026

The Drama In Canada Continues: "Kyma is not entitled to call a meeting of the Corporation’s shareholders... inappropriate and invalid..." August 19, 2026

Mistake For Consortium Bidding For Canada's Sherritt To Keep Secret Most Important Party- The U.S. One. Will Trump Prefer Threesome Or Fivesome? Saving Nickel/Cobalt From China, Europe, Russia? August 17, 2026

For U.S. Secretary Of State Marco Rubio, Change In Cuba Seems More Like Pouring Ketchup Than Pouring Rum August 12, 2026

Cuba Has Renewable Energy “For Sale” Sign.  Thus Far, Nothing For Tesla Energy, First Solar, GE Vernova. Almost Everything For Companies In China. August 11, 2026

U.S. To Cuba Vehicles, Motorcycles, Parts, Bicycles Exports Were US$17.4 Million In July 2026. Thus Far In 2026 Total US$91 Million.

LINK TO COMPLETE LIST OF PRODUCTS IN 2025 EXPORTED FROM THE UNITED STATES TO CUBA

LINK TO COMPLETE LIST OF PRODUCTS IN 2024 EXPORTED FROM THE UNITED STATES TO CUBA

U.S. To Cuba Fuels, Gasoline, Kerosene, Oils Exports In July 2026 Were US$61.1 Million. Thus Far In 2026 Total US$156.8 Million.

LINK TO COMPLETE LIST OF PRODUCTS IN 2025 EXPORTED FROM THE UNITED STATES TO CUBA

LINK TO COMPLETE LIST OF PRODUCTS IN 2024 EXPORTED FROM THE UNITED STATES TO CUBA

Expedia Prevails With Jury Verdict In Libertad Act Title III Lawsuit By Non-Certified Claimants

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA
CASE NO. 19-22529-CIV-ALTONAGA/Reid
MARICELA MATA, et al., Plaintiffs, v. EXPEDIA, INC.; et al., Defendants.
FINAL JUDGMENT

THIS CAUSE came before the Court for a jury trial. (See Aug. 19, 21, 24–28, 31 Min. Entries [ECF Nos. 408, 411, 413, 418, 425, 429, 432, 442]). The issues having been duly tried, the jury rendered its finding that Plaintiffs, Mario Echevarría and Maricela Mata failed to carry their burdens on the first element of their claims under the Helms-Burton Act, 22 U.S.C. section 6082(a)(1). (See Echevarría Verdict [ECF No. 443] 2; Mata Verdict [ECF No. 444] 2). 1 Accordingly, it is ORDERED AND ADJUDGED as follows: 1. Final Judgment is entered in favor of Defendants, Expedia Group, Inc.; Expedia, Inc.; Hotels.com L.P.; and Orbitz, LLC on Count I of Plaintiffs’ Third Amended Complaint [ECF No. 148].  2. The Court reserves jurisdiction to enter such other and further orders as deemed proper.  3. The Clerk shall CLOSE the case.  DONE AND ORDERED in Miami, Florida, this 31st day of August, 2026.

LINK To Jury Verdict In PDF Format

Complaint In PDF Format

08/31/2026    FINAL JUDGMENT in favor of Defendants, Expedia Group, Inc.; Expedia, Inc.; Hotels.com L.P.; and Orbitz, LLC on Count I of Plaintiffs' Third Amended Complaint 148 . Closing Case. Signed by Chief Judge Cecilia M. Altonaga on 8/31/2026. See attached document for full details. (nt)
08/31/2026    ORDER that Defendant, Hotels.com GP, LLC is DISMISSED from this action. Signed by Chief Judge Cecilia M. Altonaga on 8/31/2026. See attached document for full details. (nt) 
08/31/2026    Jury Notes. (nt) (Additional attachment(s) added on 8/31/2026: # 1 Restricted Unredacted Jury Note/Verdict) (nt). 
08/31/2026    JURY VERDICT Regarding Claims of Maricela Mata. (nt) (Additional attachment(s) added on 8/31/2026: # 1 Restricted Unredacted Jury Note/Verdict) (nt). 
08/31/2026    JURY VERDICT Regarding Claims of Mario Echevarria. (nt) (Additional attachment(s) added on 8/31/2026: # 1 Restricted Unredacted Jury Note/Verdict) (nt).
08/31/2026    PAPERLESS Minute Entry for proceedings held before Chief Judge Cecilia M. Altonaga: Jury Trial completed on 8/31/2026. Total time in court: 4 hours: 10 minutes. Attorney Appearances: Lorayne Perez, Andres Rivero, Jane Webre, Santosh Aravind, Lauren Ditty, Rebecca Jahnke, Genesis Martinez, Morgan Menchaca, David D. Shank, Ana C Malave, Francisco Raul Maderal, Jr, Nicole Estrada. Court Reporter: Stephanie McCarn, 305-523-5518 / Stephanie_McCarn@flsd.uscourts.gov. (nll)
08/31/2026    Clerk's Notice to Filer re 437 Notice (Other). Wrong Event Selected; ERROR - The Filer selected the wrong event. The document was re-docketed by the Clerk, see [de#440]. It is not necessary to refile this document. (ls) 
08/31/2026    ORDER denying without prejudice 434 Plaintiffs' Motion re 22 U.S.C. § 6082(5)(D). Signed by Chief Judge Cecilia M. Altonaga on 8/31/2026. See attached document for full details. (nt) 
08/31/2026    ORDER denying 430 Defendant, Expedia, Inc.'s Motion for Judgment as a Matter of Law as to Mario Echevarra and denying 431 Defendants' Motion for Judgment as a Matter of Law as to Maricela Mata. Signed by Chief Judge Cecilia M. Altonaga on 8/29/2026. See attached document for full details. (nt) 
08/30/2026    RESPONSE to 436 Plaintiff's NOTICE of Filing Additional Proposed Revisions to Jury Verdict Forms by Expedia Group Inc., Expedia, Inc., Hotels.com GP, LLC, Hotels.com L.P., Orbitz, LLC. (ls)(See Image at DE #437) 
08/30/2026    NOTICE Defendants' Response to Plaintiffs' Additional Proposed Revisions to Verdict Forms by Expedia Group Inc., Expedia, Inc., Hotels.com GP, LLC, Hotels.com L.P., Orbitz, LLC re 436 Notice (Other) (Perez, Lorayne) 
08/30/2026    Plaintiff's NOTICE of Filing Additional Proposed Revisions to Jury Verdict Forms by Mario Echevarria, Marisela Mata (Maderal, Francisco)
08/30/2026    Defendant's NOTICE of Filing Proposed Revisions to the Court's Proposed Jury Instructions and Verdict Forms by Expedia Group Inc., Expedia, Inc., Hotels.com GP, LLC, Hotels.com L.P., Orbitz, LLC (Attachments: # 1 Exhibit Jury Instructions 8.29.26, # 2 Exhibit Mata - Jury Verdict Form (08-29-26), # 3 Exhibit Echevarria - Jury Verdict Form (08-29-26)) (Perez, Lorayne)
08/29/2026    Plaintiff's MOTION re 22 U.S.C. § 6082(5)(D) by Mario Echevarria, Marisela Mata. Responses due by 9/14/2026. (Maderal, Francisco) Modified Text on 8/31/2026 (ls).
08/28/2026    PAPERLESS Minute Entry for proceedings held before Chief Judge Cecilia M. Altonaga: Motion Hearing held on 8/28/2026 re 430 MOTION for Judgment as a Matter of Law MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM filed by Expedia, Inc., 431 Defendant's MOTION for Judgment as a Matter of Law as to Maricela Mata MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM filed by Expedia Group Inc., Hotels.com GP, LLC, Expedia, Inc., Hotels.com L.P., Orbitz, LLC. Total time in court: 2 hours: 30 minutes. Attorney Appearances: Lorayne Perez, Andres Rivero, Jane Webre, Santosh Aravind, Lauren Ditty, Rebecca Jahnke, Genesis Martinez, Morgan Menchaca, David D. Shank, Ana C Malave, Jorge Alejandro Mestre, Francisco Raul Maderal, Jr, Nicole Estrada. Court Reporter: Stephanie McCarn, 305-523-5518 / Stephanie_McCarn@flsd.uscourts.gov. (nll) 
08/28/2026    PAPERLESS Minute Entry for proceedings held before Chief Judge Cecilia M. Altonaga: Jury Trial held on 8/28/2026. Day 7. Final testimony of Defendants' witnesses; close of evidence. Total time in court: 3 hours: 25 minutes. Attorney Appearances: Lorayne Perez, Andres Rivero, Jane Webre, Santosh Aravind, Lauren Ditty, Rebecca Jahnke, Genesis Martinez, Morgan Menchaca, David D. Shank, Ana C Malave, Jorge Alejandro Mestre, Francisco Raul Maderal, Jr, Nicole Estrada. Court Reporter: Stephanie McCarn, 305-523-5518 / Stephanie_McCarn@flsd.uscourts.gov. (nll) 
08/28/2026    Defendant's MOTION for Judgment as a Matter of Law as to Maricela Mata ( Responses due by 9/11/2026.), MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM by Expedia Group Inc., Expedia, Inc., Hotels.com GP, LLC, Hotels.com L.P., Orbitz, LLC. (Perez, Lorayne)
08/28/2026    MOTION for Judgment as a Matter of Law ( Responses due by 9/11/2026.), MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM by Expedia, Inc.. (Perez, Lorayne)
08/27/2026    PAPERLESS Minute Entry for proceedings held before Chief Judge Cecilia M. Altonaga: Jury Trial held on 8/27/2026. Day 6. Testimony of Defendants' Witnesses. Total time in court: 6 hours: 35 minutes. Attorney Appearances: Lorayne Perez, Andres Rivero, Jane Webre, Santosh Aravind, Lauren Ditty, Rebecca Jahnke, Genesis Martinez, Morgan Menchaca, David D. Shank, Ana C Malave, Jorge Alejandro Mestre, Francisco Raul Maderal, Jr, Nicole Estrada. Court Reporter: Stephanie McCarn, 305-523-5518 / Stephanie_McCarn@flsd.uscourts.gov. (nll)
08/27/2026    NOTICE of Filing Proposed Revisions to Court's August 24 Proposed Jury Instructions by Expedia Group Inc., Expedia, Inc., Hotels.com GP, LLC, Hotels.com L.P., Orbitz, LLC (Attachments: # 1 Exhibit Jury Instructions Aug 26) (Perez, Lorayne) 
08/26/2026    NOTICE of Filing Advisory Regarding Timing of Anticipated Rule 50(a) Motion by Expedia Group Inc., Expedia, Inc., Hotels.com GP, LLC, Hotels.com L.P., Orbitz, LLC (Perez, Lorayne) 
08/26/2026    Proposed Jury Instructions by Expedia Group Inc., Expedia, Inc., Hotels.com GP, LLC, Hotels.com L.P., Orbitz, LLC. (Perez, Lorayne)

38 Days: U.S. Acquisition Of Canada's Sherritt Now First Key To Remove Lock On Cuba's Electricity, Gas, Minerals, And Oil Sectors.

“The Trump administration has offered the regime clear options for receiving humanitarian assistance, distributed through appropriate channels, and fuel if it privatizes the energy industry.”

• Link: Cuba: And Now There Are Two…  Antilles Gold Has Until 25 January 2027 And Sherritt International Has Until 12 October 2026 August 27, 2026

U.S. denies Cuba: dialogue continues, and accuses regime of blocking deals 
3 September 2026
By Mario J. Penton 

"The talks continue," a U.S. State Department spokesman told Martí Noticias.  He added that Washington has offered humanitarian and fuel assistance in exchange for Havana opening the energy sector to private investment, but the Cuban regime continues to prioritize state control.

The State Department said that the talks between the United States and Cuba continue, contradicting the version offered by Havana that the bilateral dialogue is completely paralyzed and that there are currently no negotiations between the two countries.

“In reality, the talks continue and, so far, the regime has not been willing to accept anything that can help the Cuban people and ultimately threatens their full control,” a State Department spokesman told Martí Noticias.

The reaction comes after Lianys Torres Rivera, Cuba’s top diplomatic representative in Washington, said in an interview with Bloomberg that the dialogue channel was “completely stalled” and that the parties had not even managed to agree on a basic agenda.  For the State Department, those statements are part of Havana’s propaganda narrative. “We are not surprised that the Cuban regime is spreading this propaganda,” the spokesman said.

Confirmation that there are open conversations raises new questions about the scope, level and issues addressed in those contacts. Washington did not specify who participates in them, when the most recent meeting was or whether it was formal negotiations or discrete communications between representatives of both governments.

Trump keeps ‘many options’ on the table

The spokesman said that President Donald Trump has different alternatives to respond to the Cuban situation and press for political and economic transformations within the island.  “As with any foreign policy issue, President Trump has many options at his disposal,” he said.  “The U.S. government will continue to use all available tools to address the national security threats posed by the Cuban communist regime and to push for economic and political reforms that allow Cuba to have a better future.”

According to the official, the White House strategy is not limited to punishing the Cuban regime, but seeks to force structural changes that allow the expansion of the private sector and the economic recovery of the country.  “President Trump continues to exert pressure to push for much deeper economic and political reforms that make Cuba a country where it is possible to invest, allow private companies to grow in a way that helps the island develop and recover, and grant the Cuban people the freedom, dignity and opportunities they deserve.”

Washington offered fuel if Cuba privatizes energy sector

The State Department also revealed that the Trump Administration presented the Cuban government with options to receive humanitarian aid and fuel, conditioned on an opening of the energy sector to private management.

“The Trump administration has offered the regime clear options for receiving humanitarian assistance, distributed through appropriate channels, and fuel if it privatizes the energy industry,” the spokesman said.  “But, unfortunately, it continues to prioritize state control over the well-being of the Cuban people,” he added.  The proposal acquires special relevance in the midst of the severe energy crisis that the island is going through, marked by prolonged blackouts, deteriorated thermoelectric power plants and a severe fuel shortage.

The Cuban ambassador says otherwise

The Cuban representative in Washington attributed the crisis to the U.S. policy of maximum pressure and said that Cuba had received only a shipment of fuel in 200 days. Torres called the restrictions a “collective punishment” and a “war without bombs.”

The State Department rejected that interpretation and directly blamed the Cuban authorities.  “The energy crisis is the direct result of the incompetence of the Cuban regime,” the spokesman said. “Footing Cubans have endured blackouts for years, while the illegitimate regime focused on storing fuel for their elites and reselling it in Asia for cash gain.”

Humanitarian aid and solar lamps

The spokesman also offered details on humanitarian aid sent to Cuba in July.  He explained that the delivery included non-perishable food packages, essential hygiene products and solar lamps capable of charging cell phones and other mobile devices.  “The Trump administration remains committed to helping the Cuban people while continuing to survive under an illegitimate regime,” he said.  The State Department announced publicly in July the dispatch of the first humanitarian assistance flight to Cuba as part of a US$100 million commitment pushed by Secretary of State Marco Rubio and executed with the collaboration of Catholic Relief Services.  Washington insists that assistance should be distributed through independent organizations and channels to prevent control of the Cuban authorities.

Accusations of corruption and “kleptocracy”

The State Department also raised the tone against the ruling leadership, which it blamed for decades of economic deterioration and for allocating the country’s resources to the military, intelligence and propaganda apparatus.  “The failed Cuban regime continues to blame the United States and everyone else for their own incompetence and corruption,” the spokesman said.  “The Cuban people are suffering, as they have for seven decades, while the Castros travel on their private plane, exhibit their luxury items to complacent foreign media and use the scarce fuel and resources available in their intelligence, military and propaganda apparatuses, rather than allocating them to ordinary Cubans.”

The source said the root of the crisis is in “the obvious kleptocracy and economic mismanagement of the regime” and accused the ruling elite of keeping billions of dollars in bank accounts outside of Cuba.  “They hide billions in offshore bank accounts rather than investing in electricity, infrastructure, responsible maintenance and the day-to-day needs of their people,” he said.  The spokesman defended Washington’s financial restrictions by pointing out that they are directed against entities controlled by the Cuban security services.  “Our firm policy towards Cuba restricts financial transactions with entities owned or controlled by the Cuban security services, with the aim of preventing the regime from accessing resources used to enrich and violently suppress the Cuban people,” he concluded.

Links To Related Analyses  

Five Entities In Cuba's Banking, Energy, Mining Sectors And Grandson Of Raul Castro Added To SDN List September 3, 2026

DOD (War) OSC Could Be U.S. Taxpayer Partner Of Last Resort For Canada’s Sherritt And Australia’s Antilles. Cobalt, Copper, Gold, Nickel, Silver Are Strategic Minerals. August 30, 2026

Cuba: And Now There Are Two…  Antilles Gold Has Until 25 January 2027 And Sherritt International Has Until 12 October 2026 August 27, 2026

Did Ontario Premier Make The Case For Why Canada's Sherritt Should Be Owned By U.S.-Based Suitor? “What would they do without the high-grade nickel that we ship down to the U.S.?”  August 24, 2026

Can Antilles Gold Of Australia Convince The Trump-Vance Administration And Government Of Cuba To Restructure Company Operations And Assets In Cuba? July 31, 2026 

Suitor For Canada's Sherritt Is Co-Chair (With Wife) Of September 2026 Republican Party Midterm Convention Host Committee. President Trump And Party Leadership (Elected And Appointed) Will Attend. August 24, 2026

Trump Administration Newly-Defined Cuba Doctrine Of "Temporary Escalatory Coercive Subjugation" Reflecting Share Price Of Canada's Sherritt. But, Some Made 336%. Preparing For Another Expropriation? August 22, 2026

Related By Marriage, Two U.S. Investors (One Self-Identifying) Reside Near Each Other In Texas And Are In Competing Efforts To Control Canada's Sherritt International Corporation August 21, 2026

U.S. Secretary Of State Rubio Meets With Minister Of Foreign Affairs Of Canada August 20, 2026

Trump-Vance Administration Increases Pressure On Cuba's Mining Sector. Impacting U.S. Control For Canada's Sherritt? August 20, 2026

Added To SDN List: Cuba Ministry Of Construction (MINCONS). August 20, 2026

U.S. Department Of State Sanctions ICAP And Nine Entities In Cuba August 20, 2026

USIDFC Expected To Have A Presence In Acquisition Canada's Sherritt International Corporation By U.S.-Based Investors. All About Protecting Supply Chains From China And Russia. August 20, 2026

The Drama In Canada Continues: "Kyma is not entitled to call a meeting of the Corporation’s shareholders... inappropriate and invalid..." August 19, 2026

Mistake For Consortium Bidding For Canada's Sherritt To Keep Secret Most Important Party- The U.S. One. Will Trump Prefer Threesome Or Fivesome? Saving Nickel/Cobalt From China, Europe, Russia? August 17, 2026

For U.S. Secretary Of State Marco Rubio, Change In Cuba Seems More Like Pouring Ketchup Than Pouring Rum August 12, 2026

Cuba Has Renewable Energy “For Sale” Sign.  Thus Far, Nothing For Tesla Energy, First Solar, GE Vernova. Almost Everything For Companies In China. August 11, 2026

sciencenotes.org

OFAC Updates General License For Diplomats In Cuba; Adds To Cuba-Related SDN List

09/03/2026

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Cuba General License 4A, "Authorizing Transactions for Third-Country Diplomatic and Consular Missions in Cuba."

OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 14404 of May 1, 2026
Imposing Sanctions on Those Responsible for Repression in Cuba and for Threats to United States National Security and Foreign Policy
GENERAL LICENSE NO. 4A

Authorizing Transactions for Third-Country Diplomatic and Consular Missions in Cuba (a) Except as provided in paragraph (c) of this general license, all transactions involving persons blocked pursuant to Executive Order (E.O.) 14404 that are ordinarily incident and necessary to the conduct of the official business of third-country diplomatic or consular missions located in Cuba are authorized.  (b) Except as provided in paragraph (c) of this general license, all transactions involving persons blocked pursuant to E.O. 14404 that are ordinarily incident and necessary to the processing of funds transfers and maintenance of accounts for the personal expenditures of the employees, grantees, and contractors, or persons who share a common dwelling as a family member of such employees, grantees, and contractors, of third-country diplomatic or consular missions are authorized.  (c) This general license does not authorize the unblocking of any property or interests in property blocked pursuant to E.O. 14404.  (d) Effective September 3, 2026, General License 4, dated July 23, 2026, is replaced and superseded in its entirety by this General License 4A.

Specially Designated Nationals List Updates

The following individual has been added to OFAC's SDN List:

CASTRO CALIS, Fidel Ernesto, Cuba; DOB 16 May 1995; nationality Cuba; Gender Male (individual) [CUBA-EO14404] (Linked To: CASTRO ESPIN, Alejandro).

The following entities have been added to OFAC's SDN List:

BANCO EXTERIOR DE CUBA, Plaza de la Revolucion, Havana, Cuba; SWIFT/BIC BECUCUHH; Website bancoexteriorcuba.cu; Organization Established Date 29 Feb 2000; Target Type Financial Institution; Entity Code 259 (Cuba) [CUBA-EO14404]. 

COMERCIAL CUPET S.A., Havana, Cuba; Organization Established Date 18 Sep 1991; Organization Type: Wholesale of solid, liquid and gaseous fuels and related products; Target Type State-Owned Enterprise; Entity Code 60254 (Cuba) [CUBA-EO14404]. 

EMPRESA DE SERVICIOS COMANDANTE RENE RAMOS LATOUR (a.k.a. "NICAROTEC"), Mayari, Holguin, Cuba; Organization Established Date 31 Jan 1977; Organization Type: Support activities for other mining and quarrying; Target Type State-Owned Enterprise [CUBA-EO14404]. 

EMPRESA IMPORTADORA DE ABASTECIMIENTO PARA EL PETROLEO (a.k.a. "ABAPET"), Havana, Cuba; Organization Established Date 21 Mar 2000; Organization Type: Wholesale of other machinery and equipment; Target Type State-Owned Enterprise; Entity Code 12127 (Cuba) [CUBA-EO14404] (Linked To: UNION CUBA PETROLEO). 

EMPRESA IMPORTADORA Y ABASTECEDORA DEL NIQUEL (a.k.a. "CEXNI"), Moa, Holguin, Cuba; Organization Established Date 31 Dec 1994; Organization Type: Non-specialized wholesale trade; Target Type State-Owned Enterprise; Entity Code 3883 (Cuba) [CUBA-EO14404].

Five Entities In Cuba's Banking, Energy, Mining Sectors And Grandson Of Raul Castro Added To SDN List

Today, the Department of State is designating five entities and one individual to further the Trump Administration’s comprehensive push to end the Cuban regime’s malign activities, both in Cuba and across our hemisphere. This action includes imposing sanctions on an additional member of the Castro family and further restricts the regime’s ability to fund and resource its repression.

All Department of State targets sanctioned today have been designated pursuant to Executive Order (E.O.) 14404, which authorizes sanctions on foreign persons determined to meet specified criteria related to repression in Cuba and other threats to U.S. national security and foreign policy.
Continued Designations of the Castro Regime

FIDEL ERNESTO CASTRO CALIS (CASTRO CALIS), grandson of Raul Modesto Castro Ruz, is being designated pursuant to Sec. 2(a)(i)(I) of E.O. 14404 for being an adult family member of ALEJANDRO CASTRO ESPIN (CASTRO ESPIN), a person designated pursuant to this order. CASTRO ESPIN, who is CASTRO CALIS’s father, was designated alongside CASTRO CALIS’s brother, RAUL ALEJANDRO CASTRO CALIS, pursuant to E.O. 14404 on June 4, 2026.

Further Restricting the Regime’s Ability to Exploit the International Financial System

BANCO EXTERIOR DE CUBA, a Cuban state-owned bank that specializes in corporate banking, foreign-trade finance, and international transactions, is being designated pursuant to Sec. 2(a)(i)(A) of E.O. 14404 for operating in or having operated in the financial services sector of the Cuban economy.
Cuban Entities Exploiting the Metals and Mining Sector

The following entities associated with the exploitation of Cuba’s metals and mining sector for the regime’s benefit are being designated pursuant to Sec. 2(a)(i)(A) of E.O. 14404 for operating in or having operated in the metals and mining sector of the Cuban economy:

EMPRESA DE SERVICIOS COMANDANTE RENE RAMOS LATOUR (NICAROTEC), which is a Cuban state-owned industrial and technical services enterprise which provides geological and mining support for the Cuban nickel sector.

EMPRESA IMPORTADORA Y ABASTECEDORA DEL NIQUEL (CEXNI), a foreign-trade and logistics enterprise that imports and supplies specialized raw materials, machinery, and equipment for Cuba’s nickel and cobalt industry.

Cuban Entities Exploiting the Energy Sector

The following entities associated with the exploitation of Cuba’s energy sector for the regime’s benefit are designated:

EMPRESA IMPORTADORA DE ABASTECIMIENTO PARA EL PETROLEO (ABAPET) is being designated pursuant to Sec. 2(a)(i)(B) of E.O. 14404 for being owned, controlled, or directed by, or having acted or purported to act for or on behalf of, directly or indirectly, UNION CUBA PETROLEO (CUPET), a person whose property or interests in property are blocked pursuant to this order. ABAPET is a CUPET subsidiary that primarily engages in procurement support activities for CUPET, and has specifically imported technological equipment, spare parts, specialized tools, and industrial inputs required to sustain Cuba’s energy sector.

COMERCIAL CUPET S.A. is being designated pursuant to Sec. 2(a)(i)(A) of E.O. 14404 for operating in or having operated in the energy sector of the Cuban economy. COMERCIAL CUPET S.A. is a Cuban state-owned entity which represents CUPET in negotiations and joint ventures with foreign entities.

Sanctions Implications

As a result of today’s sanctions actions, and in accordance with E.O. 14404 of May 1, 2026, “Imposing Sanctions on Those Responsible for Repression in Cuba and for Threats to U.S. National Security and Foreign Policy,” all property and interests in property of the designated persons described above that are in the United States or in possession or control of U.S. persons are blocked and must be reported to the Department of the Treasury’s Office of Foreign Assets Control (OFAC). Additionally, all entities that are owned individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked.

All transactions and dealings by U.S. persons or persons within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited unless authorized by a general or specific license issued by OFAC or exempt. These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person. Foreign persons that engage in transactions with persons designated pursuant to E.O. 14404—or that operate or have operated in the energy, defense and related materiel, metals and mining, financial services, or security sector of the

Cuban economy, as identified in E.O. 14404— are themselves at risk of sanctions. Non-U.S. persons, including foreign financial institutions, should proceed with caution in any dealings with a party sanctioned under this authority. Actions to return assets to a sanctioned party or transfer them to another jurisdiction for potential use by the target expose non-U.S. persons to significant sanctions risk. All property and interests in property of persons that are blocked pursuant to the Cuban Assets Control Regulations (CACR) continue to be blocked. The CACR prohibits persons subject to U.S. jurisdiction from dealing in property in which Cuba or a Cuban national has an interest, unless authorized or exempt.

The power and integrity of U.S. government sanctions derive not only from the U.S. government’s ability to designate and add persons to the Specially Designated Nationals and Blocked Persons (SDN) List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior.

Petitions for removal from the SDN List may be routed through OFAC’s Reconsiderations Portal. Petitioners may also refer to the Department of State’s Delisting Guidance page.

Talking About Cuba: United States Secretary Of State Rubio On The Brian Kilmeade Show

Secretary of State Marco Rubio with Brian Kilmeade on The Brian Kilmeade Show
2 September 2026

QUESTION:  Mr. Secretary, I see the unbelievable success in Central and South America as they begin to transition towards more representative governments, from Argentina to Bolivia, to what we’re seeing now in Venezuela, and it seems like Cuba is teetering.  How much longer do you expect this Cuban Government to stay in power?  And how important would it be for the United States interests for that to become a representative government, a democratic government? 

SECRETARY RUBIO:  Well, first of all, Cuba is a failed state right now, and it’s not because of us.  People say it’s because of us; it’s not.  Cuba was getting free oil from Maduro.  Maduro was literally stealing the oil of the people of Venezuela and giving it for free to Cuba.  Cuba would take that oil – and they weren’t using it to benefit the Cuban people; they were selling the majority of that oil for cash, and that cash was going into their pockets.  That’s no longer happening.  That’s the number one thing that’s happened here, is they’re no longer stealing the oil of Venezuela and getting it for free. 

And so – so that really is the fundamental challenge they face in terms of – but their energy sector.  You see these blackouts in Cuba.  These blackouts are not new; they’ve been having blackouts for five or seven years.  You know why?  Because their system doesn’t function; it doesn’t work.  They have equipment from the 1940s and ’50s, and they haven’t re-upped it or invested in it at all, because the economic model doesn’t work.  So I think the goal is that Cuba – the only solution and answer to Cuba – and we’re prepared to play a productive role in this – is to place itself on an irreversible path towards becoming a normal functioning state that eventually, of course, also is a democratic one as well. 

That’s the future of Venezuela, and by – future of Cuba.  And by the way, U.S. policy towards Cuba, unlike U.S. policy towards Venezuela or other countries – U.S. policy towards Cuba is codified.  It’s in statute; there’s a law.  And that law regulates what we can and cannot do with Cuba, and it makes very clear that ultimately, normalization between our countries cannot fully happen – under that law passed by Congress over 20-something years ago – cannot happen unless there’s a functioning democracy, or at least steps towards a functioning democracy.  So in many ways, when it comes to Cuba policy, it’s governed not simply by the desires of an administration; it’s governed by law that’s sitting on our books. 

DOD (War) OSC Could Be U.S. Taxpayer Partner Of Last Resort For Canada’s Sherritt And Australia’s Antilles. Cobalt, Copper, Gold, Nickel, Silver Are Strategic Minerals.

The United States Department of Defense (War) Office of Strategic Capital Could Be Partner Of Last Resort For Canada’s Sherritt And Australia’s Antilles  

Cobalt, Copper, Gold, Nickel, Silver Are Strategic Minerals The Trump-Vance Administration Wants To Control 

United States Government (Taxpayers) As Shareholder In Both Companies? 

Toronto, Canada-based Sherritt International Corporation (2025 revenue approximately US$389 million) has cobalt, nickel, and energy (30% interest in Energas S.A.) operations in the Republic of Cuba.  Link: https://sherritt.com/ 

Bowral, Australia-based Antilles Gold Limited entered the Republic of Cuba in 2020 to develop copper, gold, and silver mining projects.  Link: https://antillesgold.net/ 

Both companies have agreements with United States-based investors towards seeking authorization from The White House to continue operations in the Republic of Cuba.  The companies require a license from the Bureau of Industry and Security (BIS) of the United States Department of Commerce, Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury, and Office of Legal Adviser (OLA) of the United States Department of State, and connectivity with the United States Foreign Claims Settlement Commission (USFCSC) of the United States Department of Justice. 

From 3 January 2026, the Trump-Vance Administration (2025-2029) has crafted and implemented strategies designed to alter the status quo in the Republic of Cuba for non-Republic of Cuba-based companies.  

Attracting and Scaling Private Capital for National Security 

The Department of War's Office of Strategic Capital (OSC) develops and implements strategies and partnerships to accelerate and scale private investment in critical supply chain technologies needed for national security. Link: https://www.cto.mil/osc/ 

Attracting Private Capital to Critical Technologies and Supply Chains  

The United States is in a global competition for technological advantage. In that competition, private capital is the dominant source of funding and a key source of U.S. comparative advantage. Yet, some critical technologies and their components attract relatively little private investment and are not always supported by traditional procurement methods for national security needs. 

In response, the Office of Strategic Capital was established to attract and scale investment to national security priorities. OSC aims to use the United States’ comparative advantages in capital markets and economic competition to crowd in capital for the critical technology supply chains needed by the Department of War. 

DoW’s National Defense Science and Technology Strategy specifies 14 Critical Technology Areas vital to national security. By attracting private capital investments into these Critical Technology Areas, OSC seeks to accelerate the development and deployment of technology critical to current and future warfighting capabilities. 

While those Critical Technology Areas are the starting point for OSC, investment may occur outside of those Critical Technology Areas so long as it involves supply chain and component-level technologies and processes that enable DoW capabilities but are not always supported through direct procurement. 

National Security Fund Finance (NSFF) Program  

The National Security Fund Finance (NSFF) Program is a fund-level financing solution to increase private capital investment in critical minerals vital to United States national security. The NSFF Program provides loans to qualified investment fund managers, who combine OSC loans with private capital to invest in companies addressing U.S. national security shortages related to critical minerals and materials. By providing credit to qualified asset managers, the NSFF Program will crowd private capital and expertise into firms and technologies that support Department of War priorities.  The Office of Strategic Capital published a Notice of Funding Opportunity (NOFO) at SAM.gov. Complete proposals must be submitted to OSDRE-NationalSecurityFundFinanceSubmissions@groups.mail.mil by 5:00 p.m. EDT on November 1st, 2026. 

Office of Strategic Capital Posts Application for National Security Fund Finance Program  

The OSC is pleased to announce the formal Notice of Funding Opportunity (NOFO) for OSC's National Security Fund Finance (NSFF) program has been posted on OSC's website. 

OSC's National Security Fund Finance program aims to provide capital support to credit funds addressing shortages, gaps, and vulnerabilities in critical minerals vital to United States national security. OSC's mission is to advance these strategic interests by providing direct loans and deploying other financial tools. The NSFF program acts as the fund-level financing solution to accomplish that goal. 

The One Big Beautiful Bill Act, signed into law by President Donald J. Trump, provided funding for OSC to support critical minerals and materials. The NSFF program will provide loans to qualified investment fund managers, who will combine OSC loans with private capital to invest in portfolio companies focused on addressing U.S. national security shortages related to critical minerals and materials. 

The NSFF NOFO is available for download at SAM.gov. Complete proposals must be submitted to OSDRE-NationalSecurityFundFinanceSubmissions@groups.mail.mil by 5:00 p.m. EDT on November 1st, 2026. 

The Office of Strategic Capital reserves the right to extend any deadline(s), make one or more award(s) at an escalated timeline, or have dialogue with applicants during the period between proposal submission and the finalization of award decisions. Questions regarding NSFF can be addressed to OSDRE-NationalSecurityFundFinanceSubmissions@groups.mail.mil. 

Wall Street Journal
New York, New York
29 August 2026

Inside Trump’s Plan to Give the Pentagon a Stake in Venezuela’s Oil Riches 

excerpts 

President Trump spent months declaring his ouster of Venezuela’s leader had secured the country’s oil for America. When U.S. energy companies resisted investing at the speed and scale he wanted, his administration devised an extraordinary solution to turn his vision into reality: make the U.S. government itself an investor.  

The agreement announced Friday evening would transform the U.S. government from a broker of American oil investments in Venezuela to an investor itself.  It would give Washington a direct financial stake in a private company that would be granted centurylong rights to some of the world’s largest proven oil reserves—and tie the U.S. more closely to the unelected government that is granting those rights. 

Although it was negotiated by senior officials in both governments, the structure would make the U.S. an investor in a private company rather than a direct counterparty to the Venezuelan government.  The U.S. plans to take a 35% passive stake in Betancourt’s North American Blue Energy Partners and would secure preferential rights to purchase 20% of its production at cost, according to people involved in negotiating the agreement.  

The Pentagon’s Office of Strategic Capital plans to structure the investment through penny warrants that would yield the U.S. an equity ownership in the business without a significant capital investment, the people said. The Pentagon office has limited statutory authority to strike deals designed to support U.S. national-security interests, typically through loans and guarantees.  

The deal was led by the State Department, and U.S. officials turned to the Pentagon’s Office of Strategic Capital late in the process while searching for a financial mechanism to deploy, according to some of the people familiar with the talks.  The Defense Department will ultimately hold the government’s equity and purchase rights in the venture.  A delegation of senior Pentagon and State Department officials, including OSC Director David Lorch, visited Venezuela in July to hammer out the deal’s terms, some of the people said.  [Patrick Witt is Deputy Director of OSC].  The OSC launched in 2022 with a mandate to support industries considered critical to U.S. national security, though loans only started flowing from the office during the second Trump administration.

LINK TO COMPLETE ANALYSIS IN PDF FORMAT

Links To Related Analyses  

Cuba: And Now There Are Two…  Antilles Gold Has Until 25 January 2027 And Sherritt International Has Until 12 October 2026 August 27, 2026

Did Ontario Premier Make The Case For Why Canada's Sherritt Should Be Owned By U.S.-Based Suitor? “What would they do without the high-grade nickel that we ship down to the U.S.?”  August 24, 2026

Can Antilles Gold Of Australia Convince The Trump-Vance Administration And Government Of Cuba To Restructure Company Operations And Assets In Cuba? July 31, 2026 

Suitor For Canada's Sherritt Is Co-Chair (With Wife) Of September 2026 Republican Party Midterm Convention Host Committee. President Trump And Party Leadership (Elected And Appointed) Will Attend. August 24, 2026

Trump Administration Newly-Defined Cuba Doctrine Of "Temporary Escalatory Coercive Subjugation" Reflecting Share Price Of Canada's Sherritt. But, Some Made 336%. Preparing For Another Expropriation? August 22, 2026

Related By Marriage, Two U.S. Investors (One Self-Identifying) Reside Near Each Other In Texas And Are In Competing Efforts To Control Canada's Sherritt International Corporation August 21, 2026

U.S. Secretary Of State Rubio Meets With Minister Of Foreign Affairs Of Canada August 20, 2026

Trump-Vance Administration Increases Pressure On Cuba's Mining Sector. Impacting U.S. Control For Canada's Sherritt? August 20, 2026

Added To SDN List: Cuba Ministry Of Construction (MINCONS). August 20, 2026

U.S. Department Of State Sanctions ICAP And Nine Entities In Cuba August 20, 2026

USIDFC Expected To Have A Presence In Acquisition Canada's Sherritt International Corporation By U.S.-Based Investors. All About Protecting Supply Chains From China And Russia. August 20, 2026

The Drama In Canada Continues: "Kyma is not entitled to call a meeting of the Corporation’s shareholders... inappropriate and invalid..." August 19, 2026

Mistake For Consortium Bidding For Canada's Sherritt To Keep Secret Most Important Party- The U.S. One. Will Trump Prefer Threesome Or Fivesome? Saving Nickel/Cobalt From China, Europe, Russia? August 17, 2026

For U.S. Secretary Of State Marco Rubio, Change In Cuba Seems More Like Pouring Ketchup Than Pouring Rum August 12, 2026

Cuba Has Renewable Energy “For Sale” Sign.  Thus Far, Nothing For Tesla Energy, First Solar, GE Vernova. Almost Everything For Companies In China. August 11, 2026

Spain-Based Company That Exports Food To Cuba Retains Washington Lobbyists With Connections To U.S. Secretary Of State, The White House.

On 24 July 2026, Madrid, Spain-based Vima World S.L. retained Washington DC-based Continental Strategy LLC for US$30,000.00 for matters relating to TRD: Trade (Domestic and Foreign); FOO: Food Industry- Safety, Labeling, etc.; and FOR: Foreign Relations.

Vima World S.L. is described in the lobbying registration as “​food distribution and logistics company specializing in sourcing, import, and distribution”

LINK To Lobbying Registration 

Vima World S.L. exports agricultural commodities and food products from the United States to the Republic of Cuba through subsidiaries New York, New York-based Vima USA Ltd and Miami, Florida-based Vima USA Ltd. 

• The Trade Sanctions Reform and Export Enhancement Act (TSREEA) of 2000 re-authorized the direct commercial (on a cash basis) export of food products (including branded food products) and agricultural commodities from the United States to the Republic of Cuba, irrespective of purpose.

“We aim to deliver outcomes- not just analysis or introductions- by combining deep sector insight with high-level access and a results-oriented mindset.” Carlos Trujillo 

Carlos Trujillo, President and Founder of Continental Strategy LLC.  Former U.S. Ambassador to the OAS, four-time Presidential appointee during the Trump administration, and eight-year Florida State Legislator. Ambassador Trujillo also served as Special Representative to the 72nd UN General Assembly and was nominated as Assistant Secretary of State for the Western Hemisphere. 

Alberto Martinez serves as a Managing Partner at Continental Strategy LLC, advising clients on government relations, public policy, and strategic communications.  Martinez's extensive political experience includes more than a decade as a trusted advisor to United States Senator Marco Rubio. As Rubio's Senate Chief of Staff, Martinez directed all aspects of the Senator's legislative agenda, public policy initiatives, and communications strategy and was responsible for shaping policy strategies on critical national and Florida issues.  A veteran of three Presidential campaigns, and several statewide campaigns, Martinez served as a senior strategist on Rubio's historic 2010 Senate race. 

John Barsa is a Partner at Continental Strategy LLC and a leader in national security, international relations, and crisis response, having held top presidential posts at DHS and USAID. A seasoned strategist, he drives and influences operations, policy development, and outcomes for clients at the highest levels of government.  Barsa most recently served as the Acting Administrator of the United States Agency for International Development (USAID), the largest development agency in the world with over 10,000 employees and a budget exceeding $24 billion. He assumed this role in April 2020 at the appointment of President Trump and served as a permanent member of the Deputies Committee of the National Security Council.  Prior to this appointment, Barsa was nominated and unanimously confirmed by the U.S. Senate as the USAID Assistant Administrator for Latin America and the Caribbean, where he spearheaded policies and initiatives to promote democracy in Cuba, Venezuela, and Nicaragua, while advancing economic development across the Western Hemisphere. 

Katie Wiles is a Partner at Continental Strategy LLC.  Her mother is Susie Wiles, Assistant to the President and Chief of Staff at The White House (2025- )

Cuba: And Now There Are Two… Antilles Gold Has Until 25 January 2027 And Sherritt International Has Until 12 October 2026

And Now There Are Two… 

Antilles Gold Limited Has Until 25 January 2027

Sherritt International Corporation Has Until 12 October 2026

Bowral, Australia-based Antilles Gold Limited (AGL) is the second company to announce agreement with United States-based investors towards seeking authorization from The White House to continue operations in the Republic of Cuba.

• Will Donald Trump, President of the United States (2017-2021 and 2025-2029), “do a favor” for Anthony Albanese, Prime Minister of the Commonwealth of Australia (2022- )?  What will President Trump want in return?

From 3 January 2026, the Trump-Vance Administration (2025-2029) has crafted and implemented strategies designed to alter the status quo in the Republic of Cuba for non-Republic of Cuba-based companies. 

Two companies are the commercial and political posters for the strategies.  Toronto, Canada-based Sherritt International Corporation (2025 revenue approximately US$389 million) has cobalt, nickel, and energy (30% interest in Energas S.A.) operations in the Republic of Cuba.  AGL entered the Republic of Cuba in 2020 to develop copper, gold, and silver mining projects.  

The Trump-Vance Administration strategies are designed to coerce management to abandon, exit, or restructure operations.  A primary goal is to require management to include a United States-based entity as a shareholder- preferably controlling and majority. 

Where a non-Republic of Cuba-based company has an operation subject to a claim certified by the United States Foreign Claims Settlement Commission (USFCSC) within the United States Department of Justice, the Trump-Vance Administration is requiring a settlement.  Requiring a settlement with a non-certified claimant is not a priority. 

• There are 8,821 claims of which 5,913 awards valued at US$1,902,202,284.95 were certified by the USFCSC and have not been resolved for nearly sixty years (some assets were officially confiscated in the 1960’s, some in the 1970’s and some in the 1990’s).  The USFCSC permitted simple interest (not compound interest) of 6% per annum (approximately US$114,132,137.10); with the approximate current value of the 5,913 certified claims is approximately US$9.4 billion.  

The futures of Toronto, Sherritt International Corporation and AGL are simultaneously in doubt and in play.  

AGL has four locations of focus within the Republic of Cuba through an agreement with Republic of Cuba government-operated GeoMinera S.A. and a joint venture mining company, Minera La Victoria S.A., both of which are listed on the Specially Designated National (SDN) And Blocked Persons List by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury.   

Due to the sanctions implemented by the OFAC, AGL engaged with the United States Department of State to determine if there exists restructuring of the operations in the Republic of Cuba which would permit the company to continue those operations.  

• 24 June 2026: “Antilles Gold Limited has submitted a Proposal to U.S. Department of State offering to commit to specific operational and ownership changes to the joint venture that may encourage U.S. Department of State to lift the sanction, or the U.S. Department of Treasury's Office of Foreign Assets Control to licence Minera La Victoria S.A. to transact with U.S. entities or persons.”  

• 7 July 2026: “Antilles Gold Limited advises that it is encouraged by the response to the Proposal submitted to the U.S. Department of State following its sanctioning of the Cuban joint venture mining company, Minera La Victoria S.A., on 4 June 2026… The Company's Chairman is in preliminary discussions on the above matters and the potential pricing of a share issue by Antilles Gold Limited, with a United States investment group which has Cuban connections, and understands the potential of both Antilles Gold Limited, and the Country's mining sector.”  

• 30 July 2026: “… Following discussions with DoS [United States Department of State], AGI submitted a Proposal to DoS suggesting changes to the operation and structure of the joint venture that could lead to the lifting of the sanction, or OFAC licencing MLV to transact with U.S. entities or persons.  To advance the Proposal, a potential cornerstone U.S. investor in AGI is required to approach DoS directly on the matter and gain approval for the various stakeholders to undertake negotiations on the proposed commercial arrangements and commitments to DoS.  AGI is in preliminary discussions on this matter with potential U.S. investors.” 

LINK: Can Antilles Gold Of Australia Convince The Trump-Vance Administration And Government Of Cuba To Restructure Company Operations And Assets In Cuba? July 31, 2026 

AGL has announced an agreement with Luxembourg City-based Global Emerging Markets Global Yield, a subsidiary of New York, New York-based GEM (https://www.gemny.com), which is reportedly 100% controlled by individuals subject to United States jurisdiction.  GEM has offices in New York City, New York; Paris, France; and Lyford Cay, Bahamas.  A GEM subsidiary, Ascent Resources PLC, “invests in mineral, oil, and natural gas exploration companies.” 

GEM will acquire 25% stake in AGL Cayman Islands unit, which owns 50% interest in the joint venture mining company Minera La Victoria S.A.  

From GEM: “GEM is a US$3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets across the world.  GEM’s investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum.  Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. Our vehicles and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments.” 

Mining.com.au 

“Antilles Gold (ASX:AAU) has signed a binding memorandum of understanding (MoU) with GEM Global Yield to help lift US sanctions on its Cuban joint venture (JV).  The agreement, signed on 25 August, sees Luxembourg‑registered GEM become a 25% shareholder in Antilles Gold’s Cayman Islands subsidiary, Antilles Gold Inc (AGI), which holds 50% of Cuban JV mining company Minera La Victoria (MLV).  GEM will assist in making representations and commitments to the US Department of State (DoS) to lift the sanction recently imposed on MLV, allowing construction of its Nueva Sabana gold‑copper mine to resume.  GEM is 100% owned by US citizens, including New York‑based directors.  Under the MoU, GEM will approach the DoS to seek permission to negotiate commercial arrangements that could result in the sanction being lifted.   

The company will also commit to incorporating a new US subsidiary to subscribe for the 25% shareholding in AGI as the first step towards a minimum of 51% of AGI’s shares being held by US entities by 30 June 2028.  GEM has 60 days to complete due diligence. Meanwhile, AGI will reconstitute its board if the sanction is lifted.  AGI will appoint a US citizen as independent chairperson, two US citizens nominated by GEM as non‑executive directors, and one non‑executive and one executive director nominated by Antilles Gold. 

The surplus cash generated from the first two years of Nueva Sabana operations will be retained as equity for the La Demajagua mine rather than being distributed as dividends.  The parties will negotiate a shareholders agreement within 90 days. AGI intends to apply US$18 million ($25 million) of capital received from GEM’s subsidiary to a short‑term loan to MLV for financing Nueva Sabana construction (US$12.0 million), the La Demajagua DFS (US$4.0 million), and the balance for working capital. 

Chairman Brian Johnson says shareholders will appreciate that the proposed transaction would reduce the company’s shareholding in AGI but will not reduce the value of its shares because of the 33% increase in capital expected to be subscribed by GEM’s subsidiary.  The MoU has a six‑month term from 25 August unless extended by mutual agreement. GEM is a US$3.4 billion alternative investment group with offices in Paris, New York, and Nassau.  Antilles Gold is an Australian mining company focused on developing previously explored mineral deposits in Cuba through a 50:50 joint venture with state-owned GeoMinera SA.” 

The Trump-Vance Administration prefers that Sherritt International Corporation and AGL be controlled by a United States-based entity and minerals sourced in the Republic of Cuba by the company be destined for United States markets, particularly the cobalt for markets with military connectivity.  Assisting United States-based companies to control supply-chains for critical minerals is foundational for the Trump-Vance Administration.   

For Sherritt International Corporation, the key date is 12 October 2026 when the exclusivity expires for one suitor.  By that date, or before, Sherritt International Corporation may need to seek protections afforded by the Companies’ Creditors Arrangement Act (CCAA), which is the government of Canada equivalent to the reorganization provisions in Chapter Eleven of the United States Bankruptcy Code. 

Two suitors are circling the company.  The approach by each is dramatically different.   

The first is Dallas, Texas-based Gillon Capital, LLC which has exclusivity until 12 October 2026.  The company identified itself and its principal engages publicly in the acquisition process. 

The second is a consortium of London, United Kingdom-based Kyma Capital Ltd. (reportedly approximately US$440 million assets under management), London, United Kingdom-based Trifon Natsis (a partner in Jersey (Channel Islands), Crown Dependency-based Brevan Howard Asset Management LLP (2026 assets under management approximately US$31 billion)), Baar, Switzerland-based Glencore International AG (2025 revenue approximately US$247.5 billion), and an unidentified United States-based party.  Kyma Capital Ltd. owns approximately 13.43% of common shares of Sherritt International Corporation. 

• NOTE: Bloomberg has identified the United States-based party as Dallas, Texas-based Albert Huddleston, although Mr. Huddleston has not publicly confirmed his connectivity with the consortium prior to or subsequent to the information published by Bloomberg.  There is speculation that neither Glencore International AG nor Mr. Huddleston are no longer members of the consortium.   

Absent United States-based connectivity, the Trump-Vance Administration is unlikely to approve an acquisition of AGL or Sherritt International Corporation and remove sanctions impacting the companies implemented by the OFAC, Bureau of Industry and Security (BIS) of the United States Department of Commerce, and United States Department of State. 

LINK TO COMPLETE ANALYSIS IN PDF FORMAT

From Legis1: General Cigar Lobbies on Cuba Trade Policy

By Legis1
26 August 2026

General Cigar Lobbies on Cuba Trade Policy

Why It Matters

General Cigar Co. Inc. has returned to active lobbying after a gap, registering with Continental Strategy LLC in August to push back on U.S. trade and foreign relations policy toward Cuba.

General Cigar produces non-Cuban versions of iconic Cuban brands including Cohiba, Hoyo de Monterrey, Punch, La Gloria Cubana, and Partagas, and has focused on Cuba trade issues since at least 2011. The company is now lobbying on tobacco, trade, and foreign relations matters, though no specific legislation was listed in the filing.

By the Numbers

General Cigar has filed three lobbying disclosures total and reported zero lobbying expenses in the past four quarters. Alberto Martinez, a Managing Partner at Continental Strategy LLC, is now listed as the company's registered lobbyist. Martinez previously served as an advisor for more than a decade to then-senator Marco Rubio, and has filed 38 total lobbying disclosures across multiple clients.

Broader Context

The White House reissued a hardline Cuba policy directive on June 30, 2025, reaffirming restrictions from the first Trump administration and directing the Treasury and Commerce Departments to adjust Cuba-related regulations. In May 2025, a U.S. District Court judge ruled against General Cigar, confirming the cancellation of General Cigar's Cohiba trademark registrations in favor of Cubatabaco, a dispute that began when Cuban company Cubatabaco first filed suit in January 1997 challenging General Cigar's U.S. trademark on the Cohiba name. In September 2020, President Trump announced new sanctions against Cuba that explicitly prohibited Americans from importing Cuban cigars and rum.

The Bottom Line

General Cigar's new lobbying registration marks a strategic shift in representation, but continues the company's long-standing effort to influence U.S. trade policy on Cuba.

President Trump Continues Trading With The Enemy Act Provisions Relating To Cuba

Did Ontario Premier Make The Case For Why Canada's Sherritt Should Be Owned By U.S.-Based Suitor? “What would they do without the high-grade nickel that we ship down to the U.S.?”

“What would they do without the high-grade nickel that we ship down to the U.S.?” 

Douglas Ford Jr., is Premier of the Province of Ontario, Canada (2018- ), and Leader of the Progressive Conservative Party of Ontario (2018- ).  He represents the Toronto riding of Etobicoke North in the Legislative Assembly of Ontario. 

Associated Press
New York, New York
24 August 2026

Excerpts 

Ford threatens critical minerals and electricity 

Ford said “everything is on the table” if the dispute worsens, including cutting off electricity and critical minerals from Ontario. He also called for Canada to consider using oil and potash as leverage. 

“I’ll cut them off,” Ford said of critical minerals. “You won’t get a grain of sand out of Ontario.”

Critical minerals are increasingly important to U.S. national security and manufacturing. The Pentagon has sought more secure supplies of minerals used in military aircraft, missiles, munitions and electronics as Washington tries to reduce reliance on China, which dominates the mining or processing of several strategically important minerals. 

Ford specifically cited high-grade nickel shipped to the United States and uranium refined in Ontario.  “What would they do without the high-grade nickel that we ship down to the U.S.?” Ford said. 

Ford said Canada should consider increasingly severe retaliation if Trump continues targeting Canadian industries, including oil and potash, while Ontario could raise electricity prices or stop sending power south.  “We power 1.5 million homes and businesses,” Ford said. “Everything’s on the table. I’ll do whatever it takes.”  If Trump continues trying to dismantle Canadian manufacturing, Ford said, “he better have a pack of batteries.” 

Ford has used electricity as leverage before. During an earlier phase of the dispute, Ontario imposed a 25% surcharge on electricity exported to Michigan, Minnesota and New York. Trump responded by threatening to double tariffs on Canadian steel and aluminum before both sides backed away. 

Link To Related Analyses 

Suitor For Canada's Sherritt Is Co-Chair (With Wife) Of September 2026 Republican Party Midterm Convention Host Committee. President Trump And Party Leadership (Elected And Appointed) Will Attend. August 24, 2026

Trump Administration Newly-Defined Cuba Doctrine Of "Temporary Escalatory Coercive Subjugation" Reflecting Share Price Of Canada's Sherritt. But, Some Made 336%. Preparing For Another Expropriation? August 22, 2026

Related By Marriage, Two U.S. Investors (One Self-Identifying) Reside Near Each Other In Texas And Are In Competing Efforts To Control Canada's Sherritt International Corporation August 21, 2026

U.S. Secretary Of State Rubio Meets With Minister Of Foreign Affairs Of Canada August 20, 2026

Trump-Vance Administration Increases Pressure On Cuba's Mining Sector. Impacting U.S. Control For Canada's Sherritt? August 20, 2026

Added To SDN List: Cuba Ministry Of Construction (MINCONS). August 20, 2026

U.S. Department Of State Sanctions ICAP And Nine Entities In Cuba August 20, 2026

USIDFC Expected To Have A Presence In Acquisition Canada's Sherritt International Corporation By U.S.-Based Investors. All About Protecting Supply Chains From China And Russia. August 20, 2026

The Drama In Canada Continues: "Kyma is not entitled to call a meeting of the Corporation’s shareholders... inappropriate and invalid..." August 19, 2026

Mistake For Consortium Bidding For Canada's Sherritt To Keep Secret Most Important Party- The U.S. One. Will Trump Prefer Threesome Or Fivesome? Saving Nickel/Cobalt From China, Europe, Russia? August 17, 2026

For U.S. Secretary Of State Marco Rubio, Change In Cuba Seems More Like Pouring Ketchup Than Pouring Rum August 12, 2026

Cuba Has Renewable Energy “For Sale” Sign.  Thus Far, Nothing For Tesla Energy, First Solar, GE Vernova. Almost Everything For Companies In China. August 11, 2026

Should It Matter To The White House If President Of Cuba Is In Denial About Reasons For Decisions? More Essential To Believe Or To Implement?

Should It Matter To The White House If President Of Cuba Remains In Denial As To The Reasons For Decisions?   

Is Essential For Him To Believe In Changes Or More Important To Implement Changes? 

CiberCuba 

Miguel Díaz-Canel categorically rejected that Cuba is implementing capitalist reforms to survive its worst crisis in decades, in an interview lasting almost an hour granted to Folha de S.Paulo, conducted by Brazilian journalist Mônica Bergamo, and published this Saturday. 

When Bergamo directly pointed out the existence of private property, employers and employees, stores in dollars, and a growing social inequality, the Cuban leader responded bluntly: "There are no capitalist reforms. Let me explain." 

Díaz-Canel argued that the ongoing transformations are “necessary concessions” within a process of socialist construction, not a restoration of capitalism, and that the Communist Party ensures that the process does not lead to a system change. 

"These are necessary reforms to enhance socialist construction. For us, expanding the private sector is not an ideal of socialism. It is a concession," he stated. 

To justify those concessions, the leader invoked Fidel Castro: "Principles are not negotiable, principles do not change, but there are moments when concessions must be made to protect those principles." 

He also compared the current situation to the Special Period of the 1990s, when Cuba opened stores in foreign currencies and allowed foreign investment following the Soviet collapse, and presented the package of 176 economic measures —approved by the National Assembly on June 19 and driven by Prime Minister Manuel Marrero Cruz— as the result of an internal debate of over ten years within the party, rather than a concession to Washington. 

Díaz-Canel attributed the Cuban crisis almost entirely to the U.S. embargo, which he described as "genocide" and "a crime," and revealed that in the last seven months, only one oil tanker has entered the country—a Russian humanitarian aid shipment of 100,000 tons of crude—when the island needs seven fuel tankers per month. 

According to the leader, this shortage has rendered 100 MW of distributed generation capacity unusable, causing power outages to exceed 20, 30, and even 40 hours daily. 

The electricity generation deficit exceeded 2,411 MW at the beginning of August, marking a historic record. 

The ruler also presented figures on health impact: more than 64,000 children with outdated vaccination schedules, over 34,000 pregnant women without access to ultrasounds, childhood mortality doubled compared to the historical rate, a waiting list of more than 98,000 patients for surgeries —including 12,000 children— and only 30% of the basic medication supply available. 

In response to Bergamo's question about the so-called "internal blockade"—a term commonly used among Cubans to refer to bureaucracy and poor governmental management—Díaz-Canel dismissed it. 

"We listen, but that’s not the case." He acknowledged that there are "dissatisfactions with certain elements of bureaucracy and slowness," but insisted that the main cause of the crisis is the external embargo. 

Regarding the dialogue with Washington, Díaz-Canel acknowledged that he is afraid of a U.S. military action and admitted that the communication channel with the Trump administration is "very stalled," although he stated that Cuban officials have held meetings with their counterparts in Washington without achieving concrete progress. 

The leader also  justified the repression of protests by stating that the United States "pays people to promote social demands in Cuba" that lead to "vandalistic acts." 

Its version contrasts with the data from the Cuban Observatory of Conflicts, which recorded 1,415 protests, complaints, and critical expressions just in July 2026, the month with the highest number of recorded demonstrations in the recent history of the island. 

Díaz-Canel indicated that he has approximately two years left in his presidential term and three at the helm of the Communist Party, and he concluded the interview with an optimistic statement: "We will overcome this moment, because justice is on our side."

Cibercuba

Suitor For Canada's Sherritt Is Co-Chair (With Wife) Of September 2026 Republican Party Midterm Convention Host Committee. President Trump And Party Leadership (Elected And Appointed) Will Attend.

The Dallas 2026 Host Committee is a non-profit, non-partisan group organizing the first-ever Republican Party midterm convention, scheduled for 9 September 2026 to 10 September 2026 at the American Airlines Center in Dallas, Texas.  

The committee is led by Board President Mrs. Heather Washburne and co-chaired by Mr. Ray Washburne and Mrs. Heather Washburne, Mr. Kenny Troutt and Mrs. Lisa Troutt, and Mr. Trent Morse, with Mr. Reince Priebus serving as a Senior Adviser. 

Leadership and Organization

Board President: Heather Washburne

Co-Chairs: Ray & Heather Washburne, Kenny & Lisa Troutt, and Trent Morse

Senior Adviser: Reince Priebus

Event Logistics & Context

Dates: September 9–10, 2026

Location: American Airlines Center, Dallas, Texas

Purpose: A rally-style convention intended to boost GOP voter enthusiasm and support congressional candidates ahead of the November midterm elections, rather than conduct formal party business.

Fundraising: The local host committee has raised more than US$45 million to fully fund the logistics of the high-profile event. 

Links To Related Analyses 

LINK: Related By Marriage, Two U.S. Investors (One Self-Identifying) Reside Near Each Other In Texas And Are In Competing Efforts To Control Canada's Sherritt International Corporation August 21, 2026  

LINK: Does United States-Based Investor Have Homefield Advantage? U.S. Department Of State Deploys Competition For Control Of Canada's Sherritt International Corporation August 8, 2026 

LINK: Two UK-Based Companies, One Switzerland-Based Company, And Unidentified U.S.-Based Party Make Offer For Canada's Sherritt International Corporation. Now Two Offers On The Table. August 10, 2026 

LINK: Potential Triple Play? Carney, Diaz-Canel, Trump Deal. U.S. Secretary Of Defense Hegseth Wants Cobalt. Cuba Has It. Settling One Libertad Act Issue. And Opening Doors? August 23, 2025 

LINK: Cuba Has Nickel And Cobalt. Vehicle Electric Batteries Use Nickel And Cobalt. Cuba Should Benefit. September 25, 2021 

LINK: U.S. Control For Canada's Sherritt And Cuba's Nickel/Cobalt? Ray Washburne, First Trump Administration OPIC President & CEO And Current Chairman Of Sunoco LLC Making An Offer? May 20, 2026  

LINK: Due To Trump Administration Cuba-Related Executive Orders And SDN List Additions, Canada's Sherritt International Corporation May Sell 55% To U.S. Company May 20, 2026  

LINK: Canada's Sherritt Reports That "dissolution [of GNC] is required as a result of a material adverse change that is an immediate change under the MSA and that there is inadequate time for arbitration" May 15, 2026 

Trump Administration Newly-Defined Cuba Doctrine Of "Temporary Escalatory Coercive Subjugation" Reflecting Share Price Of Canada's Sherritt. But, Some Made 336%. Preparing For Another Expropriation?

Trump-Vance Administration Newly-Defined Cuba Doctrine Reflecting Share Price Of Toronto, Canada-Based Sherritt International Corporation   

But, 336.36% Profit For Shareholders Buying On 14 May 2026 And Selling 19 August 2026

Implementing Trump Doctrine Of Temporary Escalatory Coercive Subjugation

Preparing For The Expropriation Of A Previous Expropriation?

On 2 January 2026, the share price on the Toronto Stock Exchange (TSX) of Toronto, Canada-based Sherritt International Corporation (2025 revenue approximately US$389 million) which has cobalt, nickel, and energy (30% interest in Energas S.A.) operations in the Republic of Cuba, closed at $0.23 on 465,397 shares traded.  In 2007, the share price was $13.29.

On 3 January 2026, the armed forces of the United States abducted and then extracted Nicolas Maduro, President of Bolivarian Republic of Venezuela (2013-2026), from the city of Caracas.  That moment resulted in a suspension of the export from Venezuela of fuels and financial support to the Republic of Cuba.

• From 5 January 2026 through 9 January 2026, the first full week after the abduction and extraction of President Maduro, there were 9,701,067 shares of Sherritt International Corporation traded on the TSX.  The shares began the week at $0.20 and ended the week at $0.26.

From 17 August 2026 through 21 August 2026, there were 65,836,374 shares of Sherritt International Corporation traded on the TSX.  The shares began the week at $0.36 and ended the week at $0.40.  On 19 August 2026, the share price was $0.48, the highest thus far in 2026.

Since January 2026, the Trump-Vance Administration (2025-2029) has implemented policies, procedures, and regulations reflecting a newly-defined doctrine of “temporary escalatory coercive subjugation” to encourage commercial, economic, financial, military, political, and societal changes by the Diaz-Canel-Valdes Mesa Administration (2019- ) in Havana, Republic of Cuba.

The private sector poster child symbolizing the publicly-stated objectives of the Trump-Vance Administration is Sherritt International Corporation.

Since 1996, executives of Sherritt International Corporation and their immediate family members have been subject to Title IV provisions of The Cuban Liberty and Democratic Solidarity Act of 1996 (known as “Libertad Act”): 

• Title III authorizes lawsuits in United States District Courts against companies and individuals who are using a certified claim or non-certified claim where the owner of the certified claim or non-certified claim has not received compensation from the Republic of Cuba or from a third-party who is using (“trafficking”) the asset. 

• Title IV restricts entry into the United States by individuals who have connectivity to unresolved certified claims or non-certified claims.  One Canada-based company and one Spain-based company are known to be subject to this provision based upon a certified claim and non-certified claim.

The Trump-Vance Administration commenced targeting Sherritt International Corporation on 1 May 2026 and then with specificity on 7 May 2026 using Executive Orders.  On 14 May 2026, the share price of Sherritt International Corporation was $0.11, the lowest thus far in 2026. 

The future of Sherritt International Corporation is simultaneously in doubt and in play.  Two suitors want control of the company.

Will Donald Trump, President of the United States (2017-2021 and 2025-2029), have a higher degree of comfort with an ownership structure for Sherritt International Corporation whose political leadership includes three or five?

Will The White House embrace a Canada-Cuba-United States transaction or a Canada-Cuba-Switzerland-United Kingdom-United States transaction?

• Mark Carney, Prime Minister of Canada (2025-), Miguel Diaz-Canel, President of the Republic of Cuba (2019- ), and President Trump.

• Prime Minister Carney, Guy Parmelin, President of the Swiss Confederation (2026- ), Andy Burnham, Prime Minister (2026- ) of the United Kingdom (England, Scotland, Wales, Northern Ireland), and President Trump.

The key date is 12 October 2026 when the exclusivity expires for one suitor.  By that date, or before that date, Sherritt International Corporation may need to seek protections afforded by the Companies’ Creditors Arrangement Act (CCAA), which is the government of Canada equivalent to the reorganization provisions in Chapter Eleven of the United States Bankruptcy Code.

The first suitor: Dallas, Texas-based Gillon Capital, LLC which has exclusivity until 12 October 2026.  The company identified itself and its principal engages publicly in the acquisition process.

The second suitor: Consortium of London, United Kingdom-based Kyma Capital Ltd. (reportedly approximately US$440 million assets under management), London, United Kingdom-based Trifon Natsis (a partner in Jersey (Channel Islands), Crown Dependency-based Brevan Howard Asset Management LLP (2026 assets under management approximately US$31 billion)), Baar, Switzerland-based Glencore International AG (2025 revenue approximately US$247.5 billion), and an unidentified United States-based party.  NOTE: On 20 August 2022, media reported the party is Dallas, Texas-based Albert Huddleston whose family office is Dallas, Texas-based Chota Capital LLC.  Kyma Capital Ltd. owns 13.43% of common shares of Sherritt International Corporation.

• From Wikipedia: “Marc Rich (born Marcell David Reich; December 18, 1934- June 26, 2013) was a Belgian-American commodities trader, financier, and businessman.  He founded the commodities company Glencore and was later indicted in the United States on federal charges of tax evasion, wire fraud, racketeering, and selling Iranian oil to Israel during the Iran hostage crisis.  He fled to Switzerland at the time of the indictment and never returned to the United States.  He received a widely criticized presidential pardon from President Bill Clinton, on his last day in office [20 January 2021].  Rich had donated large sums to Israeli officials and organizations, which had pleaded extensively on his behalf.  Rich's ex-wife Denise had also made donations to the Democratic Party.”

President Trump will need to be prepared to intervene and persuade representatives of the largest and the third-largest of the 5,913 claims certified by the United States Foreign Claims Settlement Commission (USFCSC) and potentially the representative of one non-certified claim to accept from either suitor their terms for acquiring Sherritt International Corporation.  Absent settlements of any claims, a transaction is unlikely to be completed.

If a transaction is not completed by either suitor or a suitor yet identified, and the government of the Republic of Cuba decides to expropriate and then manage the Republic of Cuba assets of Sherritt International Corporation; enter into an agreement with People’s Republic of China-based company; or enter into an agreement with Russian Federation-based company, the United States Department of Defense (War) would likely to use assets to prevent the export of nickel and cobalt from the Republic of Cuba to any market other than the United States as a means to satisfy the value of United States-based claimants.

Links To Related Analyses 

LINK: Related By Marriage, Two U.S. Investors (One Self-Identifying) Reside Near Each Other In Texas And Are In Competing Efforts To Control Canada's Sherritt International Corporation August 21, 2026  

LINK: Does United States-Based Investor Have Homefield Advantage? U.S. Department Of State Deploys Competition For Control Of Canada's Sherritt International Corporation August 8, 2026 

LINK: Two UK-Based Companies, One Switzerland-Based Company, And Unidentified U.S.-Based Party Make Offer For Canada's Sherritt International Corporation. Now Two Offers On The Table. August 10, 2026 

LINK: Potential Triple Play? Carney, Diaz-Canel, Trump Deal. U.S. Secretary Of Defense Hegseth Wants Cobalt. Cuba Has It. Settling One Libertad Act Issue. And Opening Doors? August 23, 2025 

LINK: Cuba Has Nickel And Cobalt. Vehicle Electric Batteries Use Nickel And Cobalt. Cuba Should Benefit. September 25, 2021 

LINK: U.S. Control For Canada's Sherritt And Cuba's Nickel/Cobalt? Ray Washburne, First Trump Administration OPIC President & CEO And Current Chairman Of Sunoco LLC Making An Offer? May 20, 2026  

LINK: Due To Trump Administration Cuba-Related Executive Orders And SDN List Additions, Canada's Sherritt International Corporation May Sell 55% To U.S. Company May 20, 2026  

LINK: Canada's Sherritt Reports That "dissolution [of GNC] is required as a result of a material adverse change that is an immediate change under the MSA and that there is inadequate time for arbitration" May 15, 2026 

LINK TO COMPLETE ANALYSIS IN PDF FORMAT

September 2025 Through august 2026

Related By Marriage, Two U.S. Investors (One Self-Identifying) Reside Near Each Other In Texas And Are In Competing Efforts To Control Canada's Sherritt International Corporation

Bloomberg
New York, New York
20 August 2026

By Sybilla Gross and Paula Sambo

Albert Huddleston is an anchor investor in a proposal by Glencore Plc and others to take control of Sherritt International Corp.
The consortium's proposal would offer Sherritt fresh capital in exchange for at least 55% of the company on a fully diluted basis.
Sherritt is in exclusive talks with Gillon Capital LLC, but the Glencore-led consortium, which includes one of Sherritt's biggest creditors, is challenging Sherritt in court and demanding a shareholder vote.

Another Texas billionaire is making a play for a troubled Canadian nickel and cobalt producer that is one of the top foreign investors in Cuba.

Albert Huddleston, who recently sold family-owned shale assets for $5.2 billion, is an anchor investor in a proposal put forward by Glencore Plc and others to take control of Sherritt International Corp., according to people familiar with the matter.

The consortium went public with its bid this month without naming its US partner and is offering an alternative to an earlier proposal for Sherritt from a billionaire former adviser to President Donald Trump. Huddleston’s family office, Chota Capital LLC, is the unnamed investor, the people said, asking for anonymity to discuss private matters.  An external spokesperson for Chota didn’t immediately comment.

Sherritt is in exclusive talks with Gillon Capital LLC, the Dallas family office of real estate executive Ray Washburne, who emerged as a potential rescuer in May after the US president expanded sanctions to target almost any foreign company that does business in Cuba. The miner’s biggest creditor, Kyma Capital Ltd., is part of the Glencore consortium and is challenging Sherritt in court, demanding a shareholder vote before the exclusivity period with Gillon ends.

Both proposals would take Toronto-based Sherritt, which has been mining ore in Cuba since the 1990s and owns one of North America’s only cobalt refineries in Alberta, out of Canadian hands as the US aggressively ramps up pressure on the communist-run island in hopes of bringing about economic and political change.

The consortium, which also includes Brevan Howard co-founder Trifon Natsis and submitted its bid in June, would offer Sherritt fresh capital in exchange for at least 55% of the company on a fully diluted basis. A group of bondholders called for the board to consider the Glencore-led offer in tandem with the proposal from Washburne, whom Trump named as head of the Overseas Private Investment Corporation during his first term.
Sherritt Stock Jumps on Competing Bids

Two Texas billionaires are vying for control of the troubled Canadian miner

Sherritt’s stock got a boost from the competing offer, trading as high as 48 Canadian cents this week from as low as 13 cents at the start of the month. Shares slumped again Thursday to close at 28 cents. Once seen as a barometer for Cuba’s economic prospects, the company is a shadow of its former self. Its market value of C$193.6 million ($140.4 million) is down more than 95% from its 2008 peak of C$4.8 billion.

London-based Kyma, which owns the largest share of Sherritt’s outstanding notes and roughly 15% of its stock, attempted to force a special shareholder meeting before the five-month window with Gillon expires in October and wants to replace Peter Hancock as chairman. Sherritt, which has scheduled its annual meeting for Dec. 15, rejected Kyma’s call for a special meeting at the end of July.

This week, Kyma announced it’s seeking relief from the Ontario Superior Court of Justice. Sherritt, in turn, said the court advised that it couldn’t compel a shareholder meeting and cautioned against waging a court battle via press release. Kyma said Thursday another court hearing is set for next week.
Heavy equipment at Sherritt’s open-pit nickel mine in Moa, Cuba.Source: Getty Images South America

Sherritt has been mired in turmoil since the US president issued an executive order targeting foreign companies in Cuba at the start of May, deepening the impact of an energy crisis that’s left the country struggling to import enough fuel to meet its needs. Sherritt paused production at its nickel-and-cobalt mine in eastern Cuba in February and said in June it would idle its Alberta refinery after supplies of raw material from the island dried up.

The miner, which also has a stake in a power-generation business in Cuba, has warned that its ability to continue as a going concern is in doubt. It said in late June it wouldn’t have enough cash to meet its obligations if lenders declared a default and demanded early repayment.

Sherritt initially halted its joint ventures in Cuba and then announced it would dissolve them entirely after Trump expanded sanctions. It reversed course just days later when Washburne made his approach, with the company saying neither the State Department nor the US Treasury objected to its talks with Gillon.

The Glencore-led consortium is pitching its plan as a way to stabilize the company’s operations. It said the non-binding proposal is fully funded through equity commitments and would support Sherritt’s nickel and cobalt business, including its Fort Saskatchewan refinery.

Links To Related Analyses

LINK: Does United States-Based Investor Have Homefield Advantage? U.S. Department Of State Deploys Competition For Control Of Canada's Sherritt International Corporation August 8, 2026

LINK: Two UK-Based Companies, One Switzerland-Based Company, And Unidentified U.S.-Based Party Make Offer For Canada's Sherritt International Corporation. Now Two Offers On The Table. August 10, 2026

LINK: Potential Triple Play? Carney, Diaz-Canel, Trump Deal. U.S. Secretary Of Defense Hegseth Wants Cobalt. Cuba Has It. Settling One Libertad Act Issue. And Opening Doors? August 23, 2025

LINK: Cuba Has Nickel And Cobalt. Vehicle Electric Batteries Use Nickel And Cobalt. Cuba Should Benefit. September 25, 2021

LINK: U.S. Control For Canada's Sherritt And Cuba's Nickel/Cobalt? Ray Washburne, First Trump Administration OPIC President & CEO And Current Chairman Of Sunoco LLC Making An Offer? May 20, 2026 

LINK: Due To Trump Administration Cuba-Related Executive Orders And SDN List Additions, Canada's Sherritt International Corporation May Sell 55% To U.S. Company May 20, 2026 

LINK: Canada's Sherritt Reports That "dissolution [of GNC] is required as a result of a material adverse change that is an immediate change under the MSA and that there is inadequate time for arbitration" May 15, 2026